First Trust Advisors LP Sells 269,903 Shares of DXC Technology Company. $DXC

First Trust Advisors LP cut its holdings in shares of DXC Technology Company. (NYSE:DXC) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,890,649 shares of the company’s stock after selling 269,903 shares during the quarter. First Trust Advisors LP’s holdings in DXC Technology were worth $23,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of DXC Technology by 240.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock valued at $27,000 after purchasing an additional 1,227 shares in the last quarter. Danske Bank A S grew its holdings in shares of DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock valued at $28,000 after purchasing an additional 1,400 shares during the last quarter. Fifth Third Bancorp raised its position in DXC Technology by 116.0% in the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after purchasing an additional 1,129 shares during the period. Hantz Financial Services Inc. raised its position in DXC Technology by 110.5% in the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 1,147 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in DXC Technology by 13,258.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock worth $33,000 after purchasing an additional 2,254 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DXC. Morgan Stanley cut their price target on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 14th. Weiss Ratings downgraded DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research raised DXC Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. BMO Capital Markets dropped their target price on DXC Technology from $17.00 to $10.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $12.00 price target on DXC Technology in a research report on Friday, May 8th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.25.

DXC Technology Trading Up 8.7%

NYSE:DXC opened at $11.81 on Thursday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 196.92 and a beta of 0.82. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $9.36 and a 200 day moving average of $11.47. DXC Technology Company. has a 52 week low of $7.90 and a 52 week high of $15.68.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the firm earned $0.84 EPS. The company’s revenue was down 1.2% on a year-over-year basis. On average, research analysts predict that DXC Technology Company. will post 2.61 earnings per share for the current year.

Insider Buying and Selling at DXC Technology

In other news, CEO Raul J. Fernandez bought 28,051 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $8.90 per share, for a total transaction of $249,653.90. Following the completion of the acquisition, the chief executive officer owned 844,052 shares in the company, valued at approximately $7,512,062.80. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.13% of the company’s stock.

DXC Technology Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.